GARMIN LTD — Director's Dealing 2012

Dec 26, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GARMIN LTD (GRMN)
CIK: 0001121788
Period of Report: 2012-12-21

Reporting Person: PEMBLE CLIFTON A (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-21	Registered Shares	M	10000	$14.90	Acquired	75147	Direct
2012-12-21	Registered Shares	S	10000	$40.96	Disposed	65147	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-21	Stock option (right to buy)	$14.90	M	10000	Disposed	2012-12-26	Registered Shares (10000)	Direct

Footnotes

F1: Pursuant to the 10b5-1 stock trading plan adopted by the reporting person on November 4, 2011.

F2: Includes (a) 6,000 unvested shares acquired pursuant to an award of 10,000 restricted stock units on December 10, 2010 (the award vests in five equal annual installments), (b) 4,000 unvested shares acquired pursuant to an award of 10,000 restricted stock units on December 11, 2009 (the award vests in five equal annual installments), (c) 4,000 unvested shares that were acquired pursuant to a grant of 20,000 restricted stock units on December 12, 2008 (the award vests in five equal annual installments), (d) 6,444 unvested shares acquired pursuant to a grant of 8,055 restricted stock units on December 14, 2011 (the award vests in five equal annual installments), and (e) 10,896 unvested shares acquired pursuant to an award of 10,896 restricted stock units on December 10, 2012 (the award vests in three equal annual installments).

F3: The stock option vested in five equal annual installments beginning on December 26, 2004.